Piper Jaffray analyst Troy Jensen raised his price target for Ciena to $36 from $30 saying the company reported strong October quarter results and exceeded expectations across the board. Ciena has a "comfortable lead" in the 400G market with an "exceptional pipeline" going into 2019, Jensen tells investors in a post-earnings research note. The analyst, however, adds that while Ciena can sustain industry leading growth, the current stock price fully reflects this "superior execution." Further, he thinks potential competition in the 400G market could impact the company's solid execution. As such, Jensen keeps a Neutral rating on Ciena.